AISL Executive Summary
Avec un score AISL ajusté de 25.7/100, Egypt se classe dans la catégorie « hautement restrictif ». Le marché de l'assurance y pesait 1.7 milliard $ en 2024, pour une pénétration de 0.4% du PIB. Une cession obligatoire s'applique aux réassureurs étrangers (Africa Re 5%). Le marché applique par ailleurs une notation minimale exigée par le régulateur.
Summary written from verified AISL data, not an opinion, a starting point for analysis.
Economy
Capital
Le Caire
Population
116.5 M
GDP
$364.6 B
Currency
EGP
Insurance market
Market size
$1.7 B
Penetration
0.4%
Density / capita
Not documented
Growth (GDP proxy)
2.4%
Regulatory framework
Regulatory openness
Highly RestrictiveCompulsory cession
Yes
Africa Re 5%
Active friction mechanisms
2 / 7
Reference year
2024
AISL Score
Base score
32.5
Adjusted score (friction)
25.7
Regulatory access
20/100
Methodology breakdown
AISL recommendation: WAIT / DATA REVIEW
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Similar markets
Structurally close profiles to Egypt, computed on market size, growth, sector structure, environment and founder judgment.
Market (2024)
Total premiums
$1.7 B
Penetration
0.4%
Density / capita
Not documented
Growth
—
Number of insurers
34
International comparison
This market is -94% versus the OECD average (6.2% of GDP, 2024) and -93% versus the average across all reporting jurisdictions (5.4%, 2024).
Source: OECD, Global Insurance Market Trends 2025. These averages cover jurisdictions reporting to the OECD, not an exhaustive global sample.
Source: Atlas Magazine - Top 10 African Insurance Markets 2024
Macroeconomic context (2025)
GDP growth, 2015–2024
GDP
$364.6 B
GDP growth
2.4%
Population
116,538,258
Inflation
28.3%
Currency
EGP
Source: IMF WEO DataMapper API
Regulatory mechanisms
Africa Re 5%
Source: GRF - Reinsurance Trade Barriers and Market Access Issues Worldwide, mai 2026
What this market requires at entry
2 active regulatory mechanisms on this market, with what each one concretely means for entering Egypt.
"What If" Simulator
Each active friction mechanism removes 3.4 points from this market's score (base score: 32.5, before regulatory friction). Uncheck a mechanism below to simulate its removal and see how many points this market would regain — using the exact AISL scoring formula.
Simulated score
25.7
2 mechanisms active (2 × 3.4 = −6.8 pts)
Market players
33 companies, 2024 premiums in USD millions
Market concentration
ConcentratedHHI 111230
Leader: Misr Insurance (21.0%) — 33 companies
HHI = Herfindahl-Hirschman Index, a standard market concentration measure (sum of squared shares). <1500 = competitive, 1500-2500 = moderately concentrated, >2500 = concentrated.
Segment Life (10 companies)
| Company | 2024 premiums (M$) | Market share | Change | 2025(estimated) | 2026(estimated) | 2027(estimated) | 2028(estimated) |
|---|---|---|---|---|---|---|---|
| AXA Life Insurance - Egypt | 250.0 | 10.9% | -0.1% | 215.5 | 185.8 | 160.2 | 138.1 |
| MetLife Life Insurance Company | 78.0 | 3.4% | -0.1% | 70.7 | 64.2 | 58.2 | 52.8 |
| QNB ALAHLI Life Insurance Company | 52.0 | 2.3% | -0.1% | 47.4 | 43.3 | 39.5 | 36.0 |
| Egyptian Takaful - Life | 39.0 | 1.7% | +0.0% | 39.0 | 39.0 | 39.0 | 39.0 |
| Chubb Life Insurance Company Egypt | 23.0 | 1.0% | -0.2% | 18.2 | 14.5 | 11.5 | 9.1 |
| Delta Life Assurance | 18.0 | 0.8% | -0.3% | 12.6 | 8.8 | 6.2 | 4.3 |
| Alwafa life insurance | 9.0 | 0.4% | -0.2% | 7.4 | 6.0 | 4.9 | 4.0 |
| Sarwa Life Insurance | 6.4 | 0.3% | -0.1% | 5.9 | 5.5 | 5.1 | 4.7 |
| AROPE Life Insurance Company | 3.5 | 0.1% | -0.3% | 2.5 | 1.8 | 1.3 | 0.9 |
| Misr Emirates Takaful Life Insurance Company | 1.4 | 0.1% | -0.8% | 1.0 | 0.7 | 0.5 | 0.3 |
Segment Non-Life (23 companies)
| Company | 2024 premiums (M$) | Market share | Change | 2025(estimated) | 2026(estimated) | 2027(estimated) | 2028(estimated) |
|---|---|---|---|---|---|---|---|
| Misr Insurance | 480.0 | 21.0% | +0.1% | 523.6 | 571.2 | 623.2 | 679.8 |
| Allianz Egypt Insurance Company | 370.0 | 16.2% | -0.2% | 279.4 | 211.0 | 159.3 | 120.3 |
| The National Insurance Company of Egypt | 320.0 | 14.0% | -0.5% | 224.0 | 156.8 | 109.8 | 76.8 |
| Orient Takaful Insurance Egypt | 110.0 | 4.8% | +0.0% | 110.0 | 110.0 | 110.0 | 110.0 |
| Arab Misr Insurance Group (GIG) | 91.0 | 4.0% | +0.0% | 93.0 | 95.1 | 97.3 | 99.5 |
| Bupa Egypt Insurance | 68.0 | 3.0% | -0.1% | 57.8 | 49.1 | 41.8 | 35.5 |
| Egyp Takaful | 52.0 | 2.3% | +0.2% | 60.1 | 69.4 | 80.2 | 92.7 |
| Suez Canal Insurance Company | 47.0 | 2.1% | -0.3% | 33.5 | 23.8 | 17.0 | 12.1 |
| Royal Insurance | 39.0 | 1.7% | -0.2% | 32.4 | 26.9 | 22.3 | 18.5 |
| Mohandes Insurance Company S.A.E. | 35.0 | 1.5% | -0.1% | 32.2 | 29.7 | 27.3 | 25.2 |
| Delta Insurance | 34.0 | 1.5% | -0.1% | 31.2 | 28.7 | 26.4 | 24.2 |
| Wethaq Takaful Insurance Egypt S.A.E. | 31.0 | 1.4% | +0.1% | 34.3 | 38.0 | 42.1 | 46.6 |
| Egyptian Saudi Insurance House | 21.0 | 0.9% | -0.0% | 20.0 | 19.1 | 18.3 | 17.4 |
| Sawra Capital Holdings | 19.0 | 0.8% | -0.1% | 17.2 | 15.6 | 14.1 | 12.7 |
| Tokio Marine Egypt Family Takaful | 17.0 | 0.7% | — | 17.0 | 17.0 | 17.0 | 17.0 |
| Egyptian Associaiton for Cooperative Insurance | 12.0 | 0.5% | -0.1% | 10.3 | 8.8 | 7.6 | 6.5 |
| Misr Takaful Insurance Company | 12.0 | 0.5% | -0.1% | 10.3 | 8.8 | 7.6 | 6.5 |
| Tokio Marine Egypt General Takaful | 11.0 | 0.5% | -0.1% | 10.1 | 9.2 | 8.5 | 7.8 |
| MADA Insurance Company | 10.0 | 0.4% | +0.0% | 10.4 | 10.9 | 11.3 | 11.8 |
| AROP Properties & Liabilities Insurance Company S.A.E. | 8.5 | 0.4% | -0.1% | 7.6 | 6.8 | 6.1 | 5.4 |
| Iskan Insurance Company (S.A.E.) | 7.5 | 0.3% | -0.3% | 5.6 | 4.2 | 3.2 | 2.4 |
| Libano-Suisse Takaful - Egypt | 5.1 | 0.2% | -0.2% | 3.9 | 3.0 | 2.4 | 1.8 |
| AIG Egypt Insurance Company (S.A.E.) | 3.5 | 0.1% | -0.2% | 2.7 | 2.0 | 1.5 | 1.2 |
Market share: official source figure when available, otherwise computed from the companies listed for this segment (not necessarily 100% of the country's total market). The 2025-2028 columns, in italics, are projections: never a blank cell, but the color indicates the reliability of the method used: gray = company-specific growth rate, amber = failing that, the country's market growth, orange = failing that, the country's GDP growth, light red = no growth data available, flat 0% by default.
Active reinsurers
11 reinsurers (national + regional operating in this zone), 2021 revenue in USD millions
| Reinsurer | Scope | Revenue 2021 (M$) | Net income (M$) | Observed growth | 2022(est.) | 2023(est.) | 2024(est.) | 2025(est.) | 2026(est.) | 2027(est.) | 2028(est.) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Ghana Re - Kenya | Regional | — | — | — | — | — | — | — | — | — | — |
| WAICA Re - Zimbabwe | Regional | — | — | — | — | — | — | — | — | — | — |
| Zep Re - Zimbabwe | Regional | — | — | — | — | — | — | — | — | — | — |
| Zep Re | Regional | — | — | — | — | — | — | — | — | — | — |
| CICA - Re | Regional | — | — | — | — | — | — | — | — | — | — |
| Africa Retakaful | National | — | — | — | — | — | — | — | — | — | — |
| Waica Re - Kenya | Regional | — | — | — | — | — | — | — | — | — | — |
| Zep Re (PTA Reinsurance Co) | Regional | 213.0 | 18.1 | +2.3% | 218.0 | 223.0 | 228.0 | 233.2 | 238.6 | 244.0 | 249.6 |
| CICA-RE | Regional | 176.2 | 13.4 | +11.3% | 196.1 | 218.3 | 243.0 | 270.6 | 301.3 | 335.5 | 373.7 |
| WAICA Re | Regional | 153.3 | 19.9 | +49.5% | 229.5 | 343.3 | 513.5 | 768.1 | 1148.9 | 1719.1 | 2572.0 |
| Africa Retakaful Company | National | 32.3 | -16.2 | -26.1% | 23.9 | 17.6 | 13.0 | 9.6 | 7.1 | 5.3 | 3.9 |
Source: Atlas Magazine, Reinsurance Yearbook 2023. Last real data available: fiscal year 2021 (left-hand columns). The "2028 revenue (estimated)" column, in italic gray, is a projection based solely on the growth rate observed between 2020 and 2021 (capped between -30% and +50%/year); this is not an observed figure and should be treated with caution, particularly for companies with volatile or negative net income.
AISL Summary
- AISL positioning: 26/100, "Highly Restrictive" market.
- Insurance market: $1.7B, fiscal year 2024.
- Main entry barrier: compulsory cession (Africa Re 5%).
- Sits 11.2 points below the regional average (5 scored markets).
Regional comparison
Average adjusted score in North Africa : 36.9 (out of 5 scored markets)
Egypt is 11.2 points below the regional average